Blueshift Asset Management LLC Takes Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Blueshift Asset Management LLC purchased a new position in Medpace Holdings, Inc. (NASDAQ:MEDP) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,326 shares of the company’s stock, valued at approximately $776,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cetera Advisors LLC increased its position in shares of Medpace by 162.4% in the first quarter. Cetera Advisors LLC now owns 2,608 shares of the company’s stock worth $1,054,000 after acquiring an additional 1,614 shares in the last quarter. Baillie Gifford & Co. grew its position in Medpace by 175.6% during the 3rd quarter. Baillie Gifford & Co. now owns 14,876 shares of the company’s stock worth $4,966,000 after purchasing an additional 9,478 shares in the last quarter. Virtu Financial LLC acquired a new stake in Medpace during the 1st quarter valued at $1,239,000. CWA Asset Management Group LLC acquired a new stake in Medpace during the 3rd quarter valued at $1,306,000. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of Medpace by 6.3% in the third quarter. Oppenheimer Asset Management Inc. now owns 45,473 shares of the company’s stock valued at $15,179,000 after purchasing an additional 2,675 shares in the last quarter. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Stock Up 1.1 %

Shares of MEDP opened at $338.96 on Thursday. Medpace Holdings, Inc. has a 12 month low of $268.80 and a 12 month high of $459.77. The company’s fifty day moving average is $338.93 and its 200-day moving average is $371.98. The firm has a market cap of $10.53 billion, a price-to-earnings ratio of 29.68, a price-to-earnings-growth ratio of 1.87 and a beta of 1.37.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, October 21st. The company reported $3.01 EPS for the quarter, topping the consensus estimate of $2.77 by $0.24. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The firm had revenue of $533.32 million for the quarter, compared to the consensus estimate of $540.99 million. During the same period in the prior year, the business posted $2.22 earnings per share. The business’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, research analysts predict that Medpace Holdings, Inc. will post 11.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MEDP has been the topic of several recent analyst reports. TD Cowen dropped their price target on Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Baird R W cut Medpace from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. StockNews.com lowered shares of Medpace from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Jefferies Financial Group downgraded shares of Medpace from a “buy” rating to a “hold” rating and lowered their price objective for the company from $415.00 to $345.00 in a research report on Wednesday, September 25th. Finally, William Blair reiterated an “outperform” rating on shares of Medpace in a research report on Tuesday, October 22nd. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $380.56.

Medpace Company Profile

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. It provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support services.